About Homomorphic Encryption
Homomorphic encryption employs the concept of data conversion into cipher text so it never loses its originality during the process of any treatment or transmission. It allows complex calculations to be performed on encrypted data without compromising the encryption. Homomorphic encryption helps to protect the integrity of data by allowing others to manipulate its encrypted form while no one can understand or access its decrypted values.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 0.64% |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new technology, which is likely to encourage the growth of the global market throughout the forecast period Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Homomorphic Encryption market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Microsoft (United States), IBM Corporation (United States), Oracle Corporation (United States), Galois Inc (United States), CryptoExperts (France), Gemalto (Netherlands), Netskope (United States), Enveil (United States), Duality Technologies (United States) and ShieldIO (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Homomorphic Encryption market by Type (Partially Homomorphism, Somewhat Homomorphism and Fully Homomorphism), Application (Industrial, Government, Financial & Insurance, Health Care and Others) and Region.
On the basis of geography, the market of Homomorphic Encryption has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Hardware will boost the Homomorphic Encryption market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Size, the sub-segment i.e. Small and Medium-sized Enterprises (SMEs) will boost the Homomorphic Encryption market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising use in banking sector and Growing investment by end user in data security
Market Growth Drivers:
Growing use of smartphone and mobility solution and Growing security concern due to lot of internet users sharing personal information
Challenges:
Unawareness regarding homomorphic encryption
Restraints:
Complexity of system and Lack of up-gradation in system
Opportunities:
Increasing need of encryption of data for data security and Growing e-governance initiative
Market Leaders and their expansionary development strategies
In March 2022, Intel, Microsoft Partner for Fully Homomorphic Encryption Development, The chip company will work with Microsoft to drive fully homomorphic encryption (FHE) development. As a DPRIVE contributor, Intel will design an application-specific integrated circuit (ASIC) accelerator to reduce the performance overhead associated with FHE, the company said. The accelerator could improve FHE workload execution over existing CPU-driven systems and reduce cryptograms' processing time by five orders of magnitude.
In September 2023: Attestation and Fully Homomorphic Encryption Coming to Intel Cloud Services. The attestation service is designed to allow data in confidential computing environments to interact with AI safely, as well as provide policy enforcements and audits
Key Target Audience
Manufacturing Companies, Software Developers, Technology Providers, Distributors, Research firms, Consultancy firms, Stakeholders, End-user sectors and Technology Investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.